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On the Cover: Epcot Cen­ter's Spaceship Earth, shown with the famous monorail that provides transportation for vis­iting guests, is an internation­ally prominent landmark at the Walt Disney World Resort, lake Buena Vista, Fl. Those at­tending the 1994 Al TA Annual Convention based at Disney World will have an opportu­nity to experience the futuristic dimension of Epcot and the nu­merous other imaginative achievements that bring excel­lence to th is famous complex. Convention coverage begins on page 11.

TITLE NeWS'" Volume 73, Number 4

$5 per issue (member rate) $8 per issue (non-member rate)

FEATURES

6 Equitable Subrogation: Not-So-Secret Defense Weapon

By Lawrence P. Heffernan, Esquire

11 Convention Magic Awaits in Florida

By Leigh A. Voge /song

1 4 Disney Blends Color, Creativity

1 9 Pat Stumpf: Dual Excellence

21 Restructuring ALT A Group Insurance

By Kathleen August

DEPARTMENTS

5 A Message from the President

24 Names in the News

In title claims activity, an insured mortgage can be salvaged in certa in situations if the new mortga­gee satisfied an earlier lien or mortgage that was senior to the intervening lien now claiming first position.

A wide-ranging perspect ive on advances in man­agement will receive program emphasis when the 88th ALTA Annual Convention is held September 21-24 in Central Florida. Headquarters will be the Walt Disney World Dolphin.

A myriad of imagination-stretch ing attractions pro­file Walt Disney World. An overview is presented as a visitor's starting guide for this oasis of fun and perpetual creativ ity.

A soft-spoken wife and mother manages two chal­lenging and mutually rewarding careers in Raleigh , NC. She finds that working for Lawyers Ti­tle of North Carolina and creating widely ac­cla imed art in batik and stained glass are pursuits that energize each other.

ALTA group insurance programs have undergone dramatic change in order to restore viabi lity and appeal to the title industry.

29 Affiliated Association Conventions

30 Calendar of Meetings

30 Marketplace

30 Index to Advertisers

Title Ne111" is published bi-monthly by the American Land Title Association , 1828 L Street, N.W., Suite 705, Washington. DC 20036. U.S. and Canadian subscription rates are $30 a year (member rate); $48 a year (non-member rate). For subscription information, call 1-800-787-AL TA. Send address changes to: Title NewJ ,

circulation manager, at the above stated address. Anyone is in vited to contribute art ic les, repo11s and photographs concern ing issues or the title industry. T he Association , however, reserves Lhe right to edit al l material subm illed. Ed itorials

and articles arc not statements of Association policy, and do not necessaril y reflect the opinions of Lhe cd ilor or Lhc Association. Reprints: Apply to the editor for permission to reprint any part or the magazine. Articles reprinted with permiss ion must carry the following credit line: "Reprinted from Title News, the

bi-month ly magazine published by the American Land Title Association."

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ASSOCIATION OFFICERS

President Parkers. Kennedy, First American Title Insurance Co., Santa Ana, CA

President-Elect Mike Currier, Guaranty Title Company, Carlsbad, NM

Treasurer Richard L Pollay, Chicago Title Insurance Co., Chicago, IL

Oiainnan, Fmance Committee Dan R. Wentz.el, North American Title Co., Walnut Creek , CA

Oiainnan, Abstractersand Trtle Insurance Agents Section Ja;eph M. Parker, Jr., l..a"'J'eis Title Of North Carolina, Raleigh, NC

Representatives, Abstracters and Trtle Insurance Agents Section Edward R. Schmidt, National Escrow Title Co., Greenwood, IN Bayard H. Waterbury, Ill, Montgomery Abstract Associates, Inc., Rockville, MD

Oiainnan, Trtle Insurance Underwriters Section Herbert Wender, Commonwealth Land Title Insurance Co., Philadelphia, PA

Representatives, Title Insurance Underwriters Section Charles H. Fc&er, Jr., l..a"'J'eis Title Insurance Corporation, Richmond, VA Malcolm Morris, Stewart Title Guaranty Company, Houston, 1X

hnmediale Pa<it President Richard J. Oliver, Smith Ahstract& Title, lnc., Green Bay, WI

ASSOCIATION STAFF

Executive Vice President James R. Maher

Vice President-Public Affairs Ga!y L Ganity

Director of Research Richard W. Mcc.arthy

Vice President-Administration David R. McLaughlin

Legislative CoWJSel Ann vom Eigen

General CoWJSel Edmond R. Browne, Jr.

Director of Education Patricia L Berman

DirectorofM~and Conferences LeighA Vogelsang

Managerof MembershipjMarl!:eting M. Kathleen Hendrix

Title News Compositor Carol C. Hosto11

MESSAGE FROM THE PRESIDENT

Title People

B eing from a title. family, I've been around title people all my life. And in the last four years, while attending over 30 state conventions, I've had the good fortune to meet

title people from all over the place. I've made a few observa­tions:

Title people are smart. They don't always dress as well as their banker, or have as many degrees, but title people understand. Don't mess with a title person.

Title people are trusting. If a customer deserves to be trusted, he will be. "Bring in that quitclaim tomorrow. We'll close today." The customer better live by his promise, however, or the game is over.

Title people know their territory. "Oh, that's the old Richardson piece. They split off 40 acres in 1948 to Abercrombie but kept the mineral rights. Then old man Richardson died and ... " Every town has a great title searcher who's really a local historian.

Title people get things done quietly. Most title people are very active in local charities and local government but usually shun the spotlight. They know their politicians well but usu­ally have the good sense not to be one. Title people don't drive yellow Cadillacs.

Title people treat their title plant like it was a human being. They feed it, nurture it and love it. Some never love the new, computerized plant. Others love it even more. Title people don't leave the old lot books just lying around.

Title people have fun at conventions. If you don't believe me, go to the Texas or Okla­homa convention. At Oklahoma, the incoming President was sworn in wearing a full hula costume. He looked great!

Title people recognize laws that protect them. No one will work harder or bend further to close a deal, but play by the rules. We're softening on this one, unfortunately.

Title people are sports fans. Title people love their local teams. Take most bets offered by title people: they're from the heart, not the mind.

Title people are friendly. Sherry and 1 have been to lots of conventions and met lots of peo­ple. In every case, we've been made to feel welcome. We wouldn't trade the experience for anything.

There are lots of other good things about title people, and I suppose a few not so good, but space is limited. By and large, I'd say we're all very lucky to be in this business. See you in Florida!

Parker S. Kennedy

Equitable Subrogation: Not-So-Secret Defense Weapon

By Lawrence P. Heffernan, Esquire

Every title professional with claims experience has encountered real es­tate transactions in which a mort­

gage or lien is missed and is not listed as an exception to the title insurance pol icy be­cause of misrepresentations by the parties, improper recordin g, and/or mistakes by the title examiner.

Some time after the transaction is closed, the new mortgagee or owner dis­covers that it does not hold first position and is junior to the intervening but over­looked lien. (Oftentimes, the insured mort­gagee learns of the interven ing mortgage when it rece ives notice of a foreclosure sale or when it is preparing to foreclos its own mortgage.) Worse yet, the new mort­gagee might discover that its mortgage is defective because the person who signed the mortgag lacked authority or capacity to execute the mortgage, or, even worse yet, because the mortgagor's signature was forged. The dismayed lender then makes a claim under its titl e insurance policy and wants to know how the tit le insurer wi ll handle this predicament.

The insured mortgage can be salvaged in these situations if the new mortgagee sat­isfied an earlier l ien or mortgage that was se nior to the intervening lien that now claims first position. In such a scenario, the insured mortgagee has a strong claim that it should take the position of the prior mort­gage/lien and should be accorded priority over the intervening lien to the extent that it paid off the superior lien. This is the con­cept known as legal or equitable "subroga­tion," wh ich might be better described as "substitution." Under the doctri ne of sub­rogation , when the circumstances are ap­propria te, one who pays th e debt of another steps into the shoes of the creditor

6

and takes the position, rights and remedies of that creditor - - including its priority over junior cred itors and liens.

The courts have a long history of apply­ing the doctrine to sureties or guarantors who satisfy the obligation of the principal upon defau lt. The surety is subrogated to the rights of the cred itor whom surety has paid and is entitled to all of the securities

The insured mortgage can be salvaged. .. if the

new mortgagee satisfied an earlier lien or mortgage that was senior to the

intervening lien that now claims first position.

and remed ies that creditor has for enforc­ing payment against the principal or others who are liable for the debt. 73 Am. Jur. 2d Subrogation §53 (1974).

Traditionally, insurers who reimburse insureds for losses covered-by an insur­ance policy also have been subrogated to whatever rights the insured may have had against the wrongdoer. For example, an automobile insurer who reimburses an in­sured for personal injury suffered in an automobile collision may then pursue the insured's claims against the third party who caused the collision. E.g., Calvert First Ins. Co. v. James, 114 S.E.2d 832 (S.C. 1960).

ln the context o f rea l es tate transac­tions, " [ o) ne who advances money to pay

off an incumbrance on rea lty at the in­stance of either the owner of the property or the holderofthe incumbrance, either on the express understand ing, or under circum­stances from which an understanding will be implied, that the advance made is to be secured by a first lien on the property ... will be subrogated to the rights of the prior in­cumbrancer ... " Fleetwood v. Med Center Bank, 786S.W.2d 550, 554 (fex.App. 1990). Cou rts across the country have indicated an increasing wi llingness to apply the doc­trine of equitab le subrogation to real estate transactions. In Californ ia, the doctrine has grown almost as fast as the state's popula­tion:

Equity first applied the doctrine strictly and sparingly. It was later liberalized, and its development has been the natural conse­quence of a call for the application of jus­

tice and equity to particular situations. Since the doctrine was first in grafted on eq­uity jurisprudence, it has been steadily ex­panding and growing in importance and extent, and is ... now broad and expansive and has a ve1y liberal application.

ln re Estate ofJohnson, 50Cal.Rptr. 147, 149 (1966) (internal quotation omitted).

Grounded in Principles of Equity Equitable subrogation is distinct from

"conventional " subrogat ion which arises from the agreement of the parties. Legal or equitable subrogation is grounded in the principles of equity and fairness and is not dependent upon a contract. It is invoked to prevent unjust enrichment of the interven­ing lienholderorto prevent a fraud or a mis­take. Why should a junior lienholder vault into first position because another party ( the insured mortgagee) sati sfied a first mortgage under the mistaken belief that it

Title News - July/August, 1994

would then become first mortgagee? Why should the junior lienholder enjoy such a windfall as a result o f another's error or fraud? When the doctrine is applied, jus­tice is served and there is no prejudice to the intervening lienholder because the in­tervenor is held in the same position that he took originally, i.e., a position junior to an­other lien.

Although lienholders and their counsel often react to claims of equitable subroga­tion with skepticism, it is a widely favored doctrine. The expansion and acceptance of equitable subrogation can be measured in the dec isions of the Utah appellate courts. Martin v. Hickenlooper, 59 P.2d 1139 (Utah, 1936), involved the classic equita­ble subrogation case in the real estate con­text, i. e., a lender advancing money to discharge a first mortgage on ly to discover an intervening lien.

In placing the lender in the position of the earlier mortgage that it had satisfied, the Utah Supreme Court described the doc­trine of equ itable subrogation as "steadily expanding and growing in importance and extent in its application to various subjects and classes of persons." 59 P.2d at 11 40. That was in 1936. By 1993, the Utah Court of Appeals described equitable subrogation as a doctrine that is "widely recognized in American jurisprudence" that "has long been part of Utah law." Richards v. Security Pacific National Bank, 849 P.2d 606, 608 (Utah App. 1993).

The doctrine's application is not limited to "classic" cases where an intervening lien has been overlooked. It has been applied to many di fferen t situations to prevent in­justice including real estate transactions where fraud a has been perpetrated.

In Kuske v. Staley, 28 P.2d 728 (Kan. 1934) , the plaintiff mortgagor sought to foreclose a mortgage on the defendant's real estate but the defendant denied that he had ever executed the promissory note and mortgage in question. At trial , the jury found that the defendant had not signed the note and mortgage and judgment was entered for the defendant.

The plaintiff mortgagee appealed the judgment to the Supreme Court of Kansas. Even though the high court did not over­turn the jury's finding of forgery, it did re­verse the judgment of the lower court by invoking the doctrine of equitab le subroga­tion. Noting that the concept of equ itable or legal subrogation "is founded upon the facts and circumstances of the particular case, and upon principles of natural jus­tice ," the Supreme Court of Kansas held that, even though the plaintiff held a forged mortgage, he was subrogated to the rights

Title News - July/August, 1994

of an earlier mortgagee who had been paid with proceeds from the forged mortgage loan. 28 P.2d at 732.

The courts have also applied to doctrine of equitable subrogation to many different types of li ens. In Union Trust Co. v. Les­sovitz, 69199 N.E. 614 (Ohio Ct. App. 1931), a bank was induced through misrepresen­tation to loan money to pay off first and sec­ond mortgages on the assurance that the bank would have a first mortgage lien on the property, on ly to find that there was also a judgment lien on the property. Ap­plying the doctrine of eq uitable subroga­tion, the court leapfrogged th e new mortgage over the judgment lien.

Even the IRS is not beyond the reach of the doctrine. Han v. United States, 944 F.2d 526 (9th Cir. 1991), arose out of the plain­tiffs' purchase of property which, unbe­knownst to them , was encumbered by a

... the fact that a title professional may have

missed the intervening lien, or that a title insurance policy exists, does not constitute a defense ....

$2.3 million dollar federal tax l ien for the seller's del inquent income taxes. As part of the real estate transaction , the plaintiffs, the Hans, satisfied a loan to World Savings & Loan Association, which held a first trust deed on the property. When the IRS levied upon the property to satisfy the tax lien, the Hans filed a complaint for wrongfu l levy and asked the United States District Court to issue an injunction restraining the IRS from proceeding against the property. The United States District Court entered sum­mary judgment for the IRS, ruling, in effect, that the IRS was entitled to the full value of the property.

However, the United States Court of Ap­peals for the Ninth Circuit reversed the summary judgment in favor of the IRS and held that the Hans were equ itab ly subro­gated to all liens and encumbrances that were recorded prior to the IRS tax lien and were satisfied from the proceeds of the sale to the Hans.

Mechanics' Lien Application On the other hand, a number of courts

have refused to apply equitable subroga-

tion to mechanics' liens. Generally speak­ing, mechanics' liens are creatures of stat­ute and take effect when the work is commenced or materials are furnish ed . Consequently, many courts have con­cluded that the new lienholder or owner has constructive notice of the mechanics' lien when the work is commenced and that such notice defeats the application of equi­tab le subrogation. See, e.g., Collateral Inv. Co. v. Pilgrim , 42 1So.2d 1274 (Ala.Civ.App. 1982); Carl H. Peterson Co. v. Zero Estates, 261 N.W.2d 346 (Minn. 1977); Cheswick v. Weaver, 280 S.W.2d 942 (Tex.Civ.App. 1955); Richards v. Security Pacific National Bank, 849 P.2d 606 (Utah App. 1993).

Despite its universal appeal and grow­ing acceptance, there are some widely rec­ognized prerequisites to the application of the doctrine. The doctrine will not be ap­plied to a "mere volunteer," i .e., a third per­son who pays the prior debt without any obl igation to do so. However, a party that satisfies and discharges a lien at the request of the debtor with the understanding that it will take the position of first mortgagee or credi tor is not a "mere volunteer." See Bur­goon v. Lavezzo, 92 F.2d 726 (D.C.Cir. 1937); Smith v. State Savings & Loan Ass'n, 223 Cal.Rptr. 298 (Cal. Ct. App. 1986); Fleet­wood v. Med Center Bank, 786 S.W.2d 550 (Tex.App. 1990).

In add iti on, the whole debt must be paid before the payorwill besubrogated to the position of the earlier creditor. You can­not pay part o f the prior debt and ask to step into one of the senior creditor's shoes. See Federal Land Bank of New Orleans v. Henderson, Black & Merrill Co., 42 So .2d 829 (Ala. 1949) ; Capitol National Bank v. Holmes, 95 P. 314 (Co lo. 1908); Consoli­dated Naval Stores Co. v. Wilson , 90 So. 461 (Fla. 192 1).

Claims of equ itab le subrogat ion are also subject to a number of defenses. Once intervening lienholders have shaken off their dismay at the prospect of a junior lien­holder vaulting over them, they often assert that the claimant should not be afforded

The author is a partner in the law firm of Robinson & Cole, which has offices in Boston and Quincy, MA; Hartford and Stamford, CT; and New York City. A graduate of Bos­ton College Law School, he has spe­cialized in the litigation of title insurance claims and coverage mat­

ters for more than I 0 years. He is an ALTA Associate mem­ber, and a frequent speaker at seminars of ALTA, state ti­tle associations and bar groups.

7

such relief sought because it was negligent. The intervening lien was on record , the ar­gument goes, and th e new mortgagee shou ld have known about it.

While it is true that the negligence of the subrogee will bar the remedy of equitable subrogation, that negligence must be more than ordinary neg l igence. Th e cla imant must be gui lty of "culpable" negligence. Thus, the fact that the junior encumbrance was recorded and the subsequent mortga­gee failed to discover it, will not by itself bar equ itab le subrogation. See Smith v. State Savings & loan Assoc. 175 Cal.App.3d 1092 (1986) . The Alabama Supreme Court stated the applicable ru le as follows:

Th e rule established by the we ight af authorities, however, is that one who ad­vances money to discharge a prior incum­brance at the instance of the mortgagor need not exercise the highest degree of care to discover an intervening incum­brance of the liile, and mere constructive notice, imputed from the existence of rec­ordation, is not sufficient to preclude him from in voking the doctrine of equitable subrogation in the absence of culpable negligence. He must, however, be igno­rant of such intervening incumbrance or nght, and cannot shut his eyes and ignore facts brought to his knowledge, reason­ably sufficient to invite diligence inquiry, which, if followed, would result in actual knowledge.

Whitson, et al. v. Metropolitan life Ins. Co. 142 So. 564, 567 (Ala. 1932).

For example, if the potential subrogee is aware of th e prior mortgage, but neg li­gently fails to determine the amount of that debt and, as a consequence, fails to pay the ful l amount of that debt, such a claimant will not be entitled to equitable subroga­tion. Ticor Title Insurance Company of Cali­

fornia v. Graham, 576 N.E.2d 1332 (Ind . Ct. App. 1991). Thus, if the claimant knows of the prior lien and simply ignores it, it is not entitled to the benefit of equitable subroga­tion. Richards v. Security Pacific National

Bank, 84 P.2d 606 (Utah Ct. App. 1993). Since subrogation is an equitable claim,

it is subject to the equitabl e defense of !aches. Once the new owner or mortgagee learns of the intervening lien or defect in ti­t le, he must act promptly in asserting his rights. If the new mortgagee delays in as­serting its claim of equitab le subrogation and that delay prejudices the intervening lienholder, the new mortgagee forfeits its claim. If the new mortgagee "sleeps on its rights," it will lose its claim of subrogation. See, e.g., Neff v. Elder, 105 S. W. 260 (Ark. 1907); Provident Cooperative Bank v. James Talcott, Inc., 260 N.E.2d 903 (Mass. 1970); Landis v. State, 66 P.2d 519 (Okla. 1937).

8

The Defense of "Deflection" In my own experience, I have found it

qu i te co mmon for the intervening li en­holder to employ the defense of "deflec­ti on," to point the finger of blame at third parties in the hopes of defeating the claim of equitable subrogation. The intervening lienholder wil l contend that the plaintiff should not be equitably subrogated to the earli er mortgage because it had an attor­ney, title company or title insurer that certi­fi ed the priority of the plaintiff's lien and will pay for the oversight. However, the fact that a title professional may have missed the intervening lien, or that a title insurance policy exists, does not constitute a defense to equitable subrogation. See Union Trust Company v. l essovitz, 199 N.E. 614 (Ohio Ct. App. 1931).

Bes ides, why should an interve ning lienholder benefit from professional serv­ices or insu rance for which it never paid?

___ many courts have concluded that the new lien holder or owner has constructive notice of the mechanics' lien when the

work is commenced. ...

With the recent spate of bank fai lures in various regions of the cou ntry, the FDIC and RTC cast a long shadow over the doc­trine of equitab le subrogation . What hap­pens when the intervening lienholder is a bank which has fai led and has been placed in FDIC or RTC receivership? Are the FDIC and RTC, like the IRS, subject to claims of equitable subrogation or are they immune?

Th e FDIC has taken the position that claims of equitable subrogation fail as a matter o f law based upon the Supreme Court holding in D 'Oench, Duhme & Co. v. FDIC, 315 U.S. 447 (1942) , as well as the pro­visions of 12 United States Code Section 1823(e) . Th e D 'Oench doctrine protects the FDIC, whether acting in its corporate capacity or as rece iver of a fai led institu­tion , from claims based upon agreements which are not properly reflected on the books of that institution , so-called "secret side agreements."

This doctrin e was later codified in 12 United States Code Section 1823(e), which provides that any agreement which tends to defeat o r diminish the interests of the

FDIC in any asset acquired by it, eitherin its corporate capacity as security for a loan or as receiver of a fa iled institution, shall not be valid against the FDIC unless the agree­ment:

1. is in writing;

2. was executed by both the bank and the person claiming an adverse interest thereunder contemporaneously with the acquisition of the asset by the insti­tution;

3. was approved by the board of directors of the institution or its loan commillee with such approval reflected in the minutes or thal board or committee; and

4. has continuously been an official re­cord of the institution since its execu­tion.

Obviously, these requirements wou ld be fo rmid ab le obstacles if they were im­posed upon an equitable subrogation claimant. However, equitable subrogation is not grounded in secret agreements. The doctrine is based upon fairness and equity and , therefore, it should not be subject to statutory strictures.

That was the rationale advanced by Judge William G. Young o f th e United States District Court for the District of Mas­sachusetts in denying the FDIC's motion for summary judgment in Lawlor Corp. v. FDIC, No. 91-10352-WGY, slip. op. (D.Mass. March 29, 1994) . In Lawlor, a construction company sought to subordinate a bank's construction loan mortgage to its mechan­ics' li en on a condominium conversion project. The lender bank was placed in FDIC receivership and the FDIC moved for summary judgment, asserting that the ac­ti on was barred by the D'Oench doctrine and 12 United States Code Section 1823(e). In response to this argument, Judge Young stated:

Equitable subrogation is a well estab­lished doctrine in Massachusel/s law. Its very purpose is to prevent unjust enrich­ment by equitably adjusting record title in the absence of any agreement between the parties. In contrast, D'Oench and its stalU­tory counterpart are applicable to actions to enforce unrecorded agreements against a failed bank. The doctrine is not applica­ble to a claim seeking equitable subroga­tion based on the alleged bad acts or inequitable conduct of the bank officers.

Id. at 9-10. Judge Young went on to distinguish the

Lawlor Corporation case from other cases in which equitable subrogation claims against the FDIC were barred under D'Oench

continued on page 16

Title News - July/August, 1994

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Convention Magic A -waits in Florida

By Leigh A. Voge/song ALTA Director of Meetings and Conferences

Awide-ranging perspective on ad­

vances in management will receive program emphasis during the 88th

ALTA Annual Convention September 21-24 in Central Florida. Headquartered at the Walt Disney World Dolphin, the event will provide an opportunity to enjoy the many well known attractions of that surrounding resort complex and other regional points of interest as well.

Throughout two days of general ses­sions and another day of educational pres­entat ions, the agenda w i ll provide a comprehensive look into topics and issues concering title managers nationwide. Here are some leading examples.

• "Service, Disney Style," a program that showcases research techniques, op­erat iona l procedures and technica l support used by The Walt Disney Co. in delivering superior guest service (September 22 General Session)

• "The Wonderfu l World of Commercial Leasing," sponsored by the Lender and Li fe counsel groups, will focus pri­mari ly on lease rejection rights under Sect ion 365(h) of the Bankruptcy Code, and issues re lated to enforce­ment of lease remedies (September 23 Educational Session)

• "EDI : New Magic for Title Ordering," presen ted by the Land Title Systems Committee, w ill feature the sharing of experience by a tit l e agent and a lender customer in the actual imple­mentat ion of electronic data inter­change ordering of land title services (September 23 Educational Session)

• "Managing Your Most Valuable Asset­Employee Performance Evaluations,"

Title News - July/August, 1994

An opportunity to visit the Kennedy Space Center is among Convention highlights.

a discussion by legal and human re­source experts on the implications of this important management tool (Sep­tember 23 Educational Session)

• "Flirting with Disaster- -Can Your Busi­ness Survive the Seven Plagues?," fea­turing first-hand accounts from title managers who have successfully con­tinued operations after natural disas­ters. (September 23 Educational Session)

• "Claims Awareness," a discussion of strategies for minimizing title claims through sound examination and un­derwriting practices. (September 23 Educational Session)

• "Pa rent Companies and the Impor­tance of Title Insurance Subsid iaries," a discussion moderated by ALTA Pres ident Parker Kennedy, in which two presidents of parent companies owning large ti t le insurance under­writers present their views on involve­men tin the tit l e industry by the i r respective organ izations. The guest panel ists: John L. Burns, Jr. , president and chief executive officer, Alleghany Corporation, owner of Chicago Title and Trust Company, and Robert M. Steinberg, president and ch ief operat­ing officer, Reliance Group Holdings, Inc., owner of Commonwealth Land Title Insurance Company. (September 24 General Session)

For an overview of Convention activity, please see the calendar accompanying th is article.

Guest Speaker Roster Outstanding Add itional guest speakers for the Con­

vention round out a lineup that is tru ly out-

11

standing. On September 23, Tom DeFrank, wh o has covered th e White House fo r Newsweek magazine for 23 years, shares his perspective on the presidency during the Title Industry Political Action Commit­tee breakfast.

On September 24, Curly Neal , former Harlem Globetrotters basketball star, will entertain at th e go l f and tennis awards breakfast.

During the General Session the morning of September 24, Frank Abagnale, who has served a prison term after being brought to justice as a top-level con artist, will discuss white collar crime from an insider's view­point. He curren tly is a highly respected consultant on the subject and later in the day will offer a technical seminar geared to title industry concerns.

Anchoring the September 24 Genera l Session will be former Congressman and HUD Secretary Jack Kemp, who wi ll dis­cuss his p lan to encourage economic growth and job creation for the nation.

Special Events Sparkle On September 21, th e Co nvention 's

opening Ice-Breaker reception will feature an appropriate magical theme as attendees move through an underwater world featur­ing King Neptune and other marine deni­zens. The magic continues the following mornin g as Co nve ntion atten dees and their chi ldren breakfast with their favorite Disney characters before heading for the various attracti ons.

Bringing sparkle to the September 23 Spouse/Guest Brunch will be World Cham­pion Magician Giovanni , who offers an in­spirational message- anything is possible if you think l ike a magician. Golf and tennis tournaments are on the docket that after­noon.

Tours and other leisure acti vities offer appealing options th roughout the Florida stay.

On September 20, there will be a visit to the Kennedy Space Center, including the shuttle assembly building, actual launch pads, astronaut trai ning facilities, rocket museums, and the breath-tak ing Astro­nauts' Memorial.

September 21 offers a morning of bass fishing at a promising nearby lake, along with a separate trip to the world 's most fa­mous water show at Cypress Gardens.

On September 22, there will be an op­portuni ty for an airboat ride among Flor­id a's natural beauty and a v isit w i th alligators and their trainers- along with a se parate and fasc in atin g "b ehi nd th e sce nes" tour featuring the techno logies and systems th at d r ive the Walt Disney

12

1994 ALTA Annual MONDAY, SEPTEMBER 19 3:00 p.m.-5:00 p.m. Convention Registration

TUESDAY, SEPTEMBER 20 8:00 a.m.-7:00 p.m.

9:00 a.m.-5:00 p.m.

12:00 noon-5:00 p.m.

1 :00 p.m.-5:00 p.m.

2:30 p.m.-4:00 p.m.

Convention Registration

Title Insurance Forms Committee Meeting

Affiliate Association Seminar, Luncheon

Education Committee Meeting

Government Affairs Committee Meeting

WEDNESDAY, SEPTEMBER 21 8:00 a.m.-7:00 p.m.

9:00 a.m.-12:00 p.m.

9:00 a.m.-11:00 a.m.

9:00 a.m.-11 :00 a.m.

9:00 a.m.-12:00 p.m.

9:00 a.m.-5:00 p.m.

9:00 a.m.-5:00 p.m.

11 :00 a.m.-1 :00 p.m.

11:30 a.m.-1:30 p.m.

12:00 noon-5:00 p.m.

1 :30 p.m.-5:00 p.m.

1 :30 p.m.-5:00 p.m.

5:30 p.m.-6:30 p.m.

6:30 p.m.-8:00 p.m.

Convention Registration

Title Insurance Forms Committee Meeting

Abstracter/ Agent Section Executive Committee Meeting

Underwriter Section Executive Committee Meeting

Directory Rules Committee Meeting

Associate Members, Legal Division Meeting

Lender and Life Counsel Meetings

Membership and Organization/ Recruitment and Retention Committees Meeting

Past Presidents Luncheon

Indian Land Claims Committee Meeting

Land Title Systems Committee Meeting

ALTA Board of Governors Meeting

First Time Convention Attendee Mixer

Ice-Breaker Reception/Exhibits Open

THURSDAY, SEPTEMBER 22 7:00a.m.-8:15 a.m.

7:00 a.m.-8:15 a.m.

7:00 a.m.-8:30 a.m.

7:30 a.m.-8:30 a.m.

8:00 a.m.-1:00 p.m.

All about ALT A- -Orientation Session

Continental Breakfast wi th the Exhibitors

Character Breakfast

TIPAC Board of Trustees Meeting

Convention Registration

Title News - July/August, 1994

Convention Calendar

8:00 a.m.-12:00 p.m.

8:30 a.m.-1 1 :30 a.m.

11:35 a.m.-12:00 p.m.

12:00 p.m.-2:00 p.m.

2:00 p.m.-3:30 p.m.

2:00 p.m.-5:00 p.m.

2:00 p.m.-5:00 p.m.

AUTOMATION SYMBIOSIS 11 Exhibits Open

General Session

Section Meetings including Nomination and Election of Officers

SLRAC Meeting & Luncheon

Claims Administration Committee Meeting

TIAC Shareholder and Board of Directors Meetings

Land Title Systems Committee Meeting

FRIDAY, SEPTEMBER 23 7:00 a.m.-8:30 a.m.

8:00a.m.-11:15 a.m.

8:00 a.m.-12:00 noon

8:00 a.m.-1 :00 p.m.

9:30 a.m.-11:30 a.m.

12:30 p.m.-6:00 p.m.

12:00p.m.

TIPAC Breakfast

Educational Sessions

AUTOMATION SYMBIOSIS 11 Exhibits Open

Convention Registration

Spouse/Guest Brunch

Golf and Tennis Tournaments

Cut-off for Banquet Coupon Exchange

SATURDAY, SEPTEMBER 24 7:00a.m.-8:15 a.m.

7:30 a.m.-8:30 a.m.

7:30 a.m.-8:30 a.m.

8:00 a.m.-1:00 p.m.

8:00 a.m.-1 2:00 noon

8:30 a.m.-11 :25 a.m.

11:30 a.m.-12:00 noon

1:00 p.m.-3:30 p.m.

2: 15 p.m.4:00 p.m.

6: 15 p.m.-11:00 p.m.

6: 15 p.m.-7:00 p.m.

7:00 p.m.-11:00 p.m.

Public Relations Committee Breakfast Meeting

Gol f and Tennis Tournament Awards Breakfast

Abstracter-Agents Research Subcommittee Breakfast

Convention Registration

AUTOMATION SYMBIOSIS 11 Exhibits Open

General Session

Executive Session

Fraud Seminar for Title Insurance Executives

1994-95 Board of Governors Meeting

Chi ldren's Banquet

Pre-Banquet Reception

Annual Banquet

Title News - July/August, 1994

World Resort "show" throughout the 43-square-mile property.

And, on September 23, there will be an opportunity to tour historic Winter Park, considered by many to be the most exclu­sive residential area in Central Florida.

Concluding the proceedings will be the traditional Annual Banquet the evening of September 24 , with black ti e attire op­tional. There will be a separate banquet for children 12 years of age and under at the same time-featuring surprise games, mov­ies and other adventures, and with adult su­pervision.

Casual Attire Prevails Since Central Florida temperatures can

be expected to reach the 90s in late Sep­tember with late afternoon showers a possi­bility , casual attire will prevail through Convention functi ons.

Those who have questions after receiv­ing the pre-Convention mailing earli er in the summer may call the ALTA meetings department at 1-800-787-ALTA. Now is defi­nitely the time to make sure arrangements are in order for this singular event. Highly informative and enjoyable in the unique Disney atmosphere, the Convention truly suggests its theme: Magic in the Making . -~

McDonald Elected Honorary Member

Members of the ALTA Board of Governors have elec ted Th o mas S. McDonald to Honorary membership in the Asso­ciation.

Presentati on o f th e aw ard, whi c h is th e highest ho nor be­stowed by AL TA, will take place on Septem­ber 22 at the opening General Session of the Association's 1994 Annual Convention, Walt Disney World Dolphin, Lake Buena Vista, FL.

To m served as presid ent of ALTA in 1982-83, and also has been chairman of the ALTA Group Insurance Trust and the Land Title Institute. His father, the late Morton McDonald, was ALTA president in 1955-56 and also was elected to Honorary Member­ship in the Association. Morton McDonald was the founder of the Group Insurance Trust, serving as its first chairman.

A graduate of Stetson University, Tom is the retired president of The Title Group, Inc., Sanford , FL, and is a past president of the Florida Land Title Association. He for­merly served as mayor of Sanford and as a

continued on page I 5

13

Disney Blends Color, Creativity

Spectacular color accents a myriad of imagination-stretching attrac­tions, set among sightings of the

world's most famous mouse. This is Walt Disney World, an oas is of

perpetual creativity where those attending the 1994 ALTA Annual Convention will en­counter nonstop fun and fascination.

Located at Lake Buena Vista, the giant complex links together 43 acres of fun by monorail , ferryboat, launch and shuttle service. There are th eme parks, water parks, resorts, fantasy and evening enter­tainment.

Major cen ters of interest are Epcot, Magic Kingdom, Disney-MGM Studios and Pleasure Island- -along with two water parks and a certified zoological park. Brief profiles of each follow.

Epcot An international showcase including

Future World and World Showcase. Major attractions of Future World focusing on dis­covery and scientific advancement are Spaceship Earth (AT&1), Universe of En­ergy (Exxon), World of Motion (General Motors), Journey into Imagination (East­man Kodak), The Land (Nestle U.S.A.), Ho­rizons , The Living Seas (United Technologies Corp.), and Wonders of Life (Met Life). Surrounding the World Show­case Lagoon are centers of interest from Canada, the United Kingdom, France, Ja­pan, American Adventure (Coca-Cola and American Express), Italy, Germany, China, Mexico, Morocco and Norway.

Magic Kingdom Th ere are seven "lands" with attrac­

tions, restaurants and shops based on fa­vorite Disney themes of yesterday, tomorrow and fantasy: Adventureland; Lib­erty Square ; Frontierland ; Main Street, U.S.A.; Fantasyland ; Tomorrowland, and Mickey's Starland. Among the numerous highlights are Splash Mountain, Pirates of

14

the Caribbean, Big Thunder Mountain Rail­road, Haunted Mansion and Space Moun­tain. Mickey Mouse and other Disney characters make frequent appearances, joining bands, singers, daily parades and street corner performers.

Disney-MGM Studios Combining a working television and

fi lm studio with a theme park, the facility in­cludes Star Tours, The Great Movie Ride, SuperStar T levision , Monster Sound Show, Jim Henson's Muppet* Vision 30, In­diana Jones Epic Stunt Spectacular, Shuttle Tour, Catastrophe Canyon, Production Center Tour, Animation Building, Jim Hen­son's Muppets on Location, Beauty and the Beast-Live on Stage, Special Effects Work­shop and Shooting Stage, Post Production Editing and Audio, Teenage Mutant Ninja Turtles and Voyage of the Little Mermaid.

Pleasure Island Located adjacent to the Disney Village

Marketplace, this six-acre nightclub theme park features seven nightclubs in addition to shops and restaurants, and includes a 10-screen AMC theater complex.

The Parks River Country. Flume rides , tubes for

white water rapids and a sparking pool for swimming accent this old-fashioned swim­ming hole tucked in a cove off Bay Lake.

Typhoon Lagoon. A variety of splashing streams and slippery slides cascades down from a 95-foot-high watershed toward a la­goon where the surf's up with 6-foot break­ing waves. There are tube rides through caves and over waterfalls, and tube drifting down a picturesque creek.

Discovery Island. Accessible by a boat ride from River Country, the island is acer­tified zoological park with bamboo forests and lush tropical foliage that shelter and support 100 species of creature. Rare scar­let ibis, trumpeter swans, ring-tailed lemurs

and alligators are among the inhabitants.

Colorfully Resourceful Following a tradition clearly i n evi­

dence since its opening in 1971 , Walt Dis­ney World combines color with creativity for spectacular results. A recently opened attraction that exemplifies this ongoing re­sourcefu lness is the 13-story Twilight Zone Tower of Terror.

The Tower is part of a major expansion of the Disney-MGM Studios park, which in­volves adding Sunset Boulevard adjacent to the previously exist ing Hollywood Boulevard. Shops and restaurants evoca­tive of Hollywood in its heyday line the new thoroughfare, near the "deserted" Tower Hotel with its spine-tingling lift ride. Guests making their way through the hotel 's de­ceptive rooms to board the ride vehicle pass through the Twilight Zone, a "super­natural" series of twists, turns and drops, while encountering thematic and breath­taking optical illusions. Finally, they rise 13 floors before their vehicle sudden ly plunges-to the delight of thrill seekers on board.

An additional Epcot headliner of recent vintage is "The Magical World of Barbie," a 30-minute musical tour of four continents starring the world-famous doll come to life. Life-size settings are inspired by doll playsets of comparable sca le, and are transformed into elaborate scenes from many lands.

A new face in the dramatic Hall of Presi­dents presentation in the Magic Kingdom is President Bill Clinton, who joints 40 former chief executives on stage and is the first liv­ing president with a speaking role there. The Clinton figure is brought to life by the Disney "Audio-Animatronics" system.

Advance Information Available Information on discounted Walt Disney

World tickets is being provided to ALTA members through the Association 's pre-

Title News - July/August, 1994

Title News - July/August, 1994

Convention mailing. Information on the fa­cility also is available by calling (407) 824-4321, and by writing Guest Letters, Walt Disney World, P.O. Box 10,040, Lake Buena Vista, FL 32830-0040: Je-

McDONALD continued from page 13

member of the Florida State Legislature. Besides serv ing as a member of the

AL TA Board of Governors prior to his elec­tion as AL TA president, Tom was a member of the Association Government Affairs Committee, Bylaws Committee and Liaison Committee with the National Association of Bar-Related Title Insurers.

Criteria for AL TA Honorary member­ship include "a history of active participa­ti on in a broad range of Association activities and programs exhibiting a strong commi tment to ALTA and its purposes." Also, the criteria state that a candidate should have served in the leadership or cha ired a significant committee or other unit of the Association, making a substan­ti al contribution to the efforts of such a unit.

Rice New Leader In Pennsylvania

William W. Rice, Ill, recently was in­stalled as president of the Pennsylvania Land Title Association at the recent con­vention of that organization. He is the first title insurance agent elected to the PLTA helm.

Previously, he has served as a member of the ALTA Board of Governors-as repre­sen tative from the Association 's Abstract­ers and Titl e Insurance Agents Section Executive Committee.

He presently is a member of the ALTA Government Affairs Committee and serves as Pennsylvania state trustee for the Title In­dustry Political Action Committee. In addi­tion, he is president of Title Industry Assurance Company, the errors and omis­sions insurance risk retention group de­signed exclusively for ALTA members.

Walt Disney World entertainers join favor­ite characters including Pluto and Goofy in a Mickey Mania Parade that is a regular part of the lively proceedings. For those in need of special excitement, there is a ride down a Splash Mountain waterfall.

15

16

Annual Convention Guest Speaker Lineup

Jack Kemp

Former Congressman and Former HUD Secretary (September 24 General Session)

John J. Bums, Jr.

Alleghany Corporation (September 24 General Session)

Robert M. Steinberg

Reliance Group Holdings, Inc. (September 24 General Session)

Frank Abagnale

Consultant-White Collar Crime (September 24 General Session)

Tom Defrank

Newsweek White House Correspondent (September 23 TIPAC Breakfast)

SUBROGATION continued from page 8

because such cases sought the enforce­ment of unrecorded contracts. Id. at note 3. Thus, if the potential subrogee does not rely upon a specific agreement with the in­terven ing lienholder, but simply relies upon the equities of the situation, D'Oench

and its statutory progeny should not bar the application of equitable subrogation.

The final limitation in the application of equitab le subrogation l ies in the fact that the claimant's lien is accorded priority over an intervening lien only in the amount ad­vanced to discharge the prior lien. E.g. , Griffin v. Griffin, 55 S.E. 317 (S.C. 1906). In other words, the entire amount of the new mortgage will not be placed ahead of the intervening li en , only th e amount ad­vanced to satisfy the prior lien.

That is a brief summary of the doctrine of equitab le subrogation and its applica­tion to real estate transactions. The doc­trine's va lue has been enhanced when loca l economi es and rea l estate va lues have declined and cred itors have found

themse lves fightin g for their respective slices of a shrinking real es tate pi e. Al­though eq uitab le subrogation is not a panacea for frauds perpetrated upon inno­

cent lenders and buyers or for errors in title searches and recordings, it certainly is an inva luable weapon for title insurers and their insureds for defense of the insureds' interests . ~~

ALT A Proposals Approved by ANSI

The American National Standards Insti­tute Xl 2 (electronic data interchange) Fi­

nance Subcommittee has approved two project proposals submitted by the ALTA Land Title Systems Committee EDI Sub­commit tee, accord ing to Frederick H. Hemphi ll , Jr., Commonwealth Land Title

Insurance Company, ALTA subcommittee chairman .

They are the Xl2 .360 Real Estate Title Evidence Transaction Set ( 197) and the Xl2.358 Mortgage Settlement Information Transaction Set (199).

Xl2.360 pertains to work by the subcom­mittee to adapt the existing ALTA title insur­ance commitment forms to EDI, a task being pursued in conjunction with the Association Title Insurance Forms Committee.

Xl2.358 is pointed toward developing EDI capab ility for transferring mortgage set­tlement information among lenders, clos­ing agents and others.

Title News - July/August, 1994

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Pat Stumpf: Dual Excellence

The axiom that employee perform­ance can be enhanced through pur­su it of a favorite leisure time activity

requires some redefinition at Lawyers Title of North Carolina in Raleigh.

Anyone familiar with the work o f Pat Stumpf in that title office will readily agree that her on-the-job activity is characterized by excellence. Besides assisting President Joe Parker, she serves as national accounts coordinator and handles the general trust account and escrow files. In the approved attorney North Carolina market, those pa­rameters add up to a very active desk.

Now for the redefinition. Although Pat finds her t itle company work outlook re­freshed by the challenge of her "other call­ing"--creative involvement as an artist--that particu lar interest extends far beyond what might be envisioned in a typical weekend association with sculpture, painti ng and the like. In point o f fact, this soft-spoken wi fe and mother manages what amounts to dual careers--the title business and a highly regarded standing as an artist in batik and stained glass.

For her, the title profession and working in art energize each other.

Although beginning with the medium of stained glass more recently, Pat has spent more than three decades in development of the precise, hard-edged style that charac­terizes her work in batik. For those needing background, batik was invented in Indone­sia and involves a method o f placing im­ages or patterns on texti les by coating parts of the fabric with wax to resist dye. After the fabric is dipped in a cold dye solution, it then is bo iled to remove the wax. Each color requires a repetition of this process.

As Steven Litt, art cri ti c, wrote in the Raleigh News and Observer, her co lors through batik attain a "crystalline" quality not possible with oils, acrylics or watercolors.

He further described her texti le work as "haptic"- -as opposed to "optic"- -meaning conveyance of the way something would

Title News - July/August, 1994

feel to the touch, rather than as it appears. Commenting on a batik exhibit where she included images of the aftermath of a tor­nado and a hurricane, as well as seashore views, the critic wrote, "When she paints a wave, you can almost feel the lift of water and foam as if you were in a boat. ... When she paints a swampy thicket, the tangled bracken looks as if the branches would scrape your cheek and tear at your cloth­ing."

Writer Litt concluded that her "images have enormous power, dignity and reso­nance," noting, "They have something to say, and the message is worthwhile."

After beginning as an art major in col­lege and later taking advanced studies at The School of Art Institute of Chicago, Pat has been featured in solo exhibitions around the nation for nearly two decades,

receiving numerous awards. Her corporate and institutional commissions have ranged from Price Waterhouse offices to Wake For­est University to COTTON , IN CORPO­RATED. In the realm of stained glass, her most ambitious work to date has been de­sign ing 28 and 26 windows, respectively, in two areas of St. Michael's Episcopal chu rch, Raleigh, along with a larger win­dow for a separate chapel.

A native of Missouri, Pat wanted to be an artist from her childhood days. College later proved to be a transitional step. She re­ce ived a four-year teacher's scholarship from Southern Illinois University but, part of the way through, Pat real ized teaching art was not for her. She then left her studies, moving to Washington, DC, where she took a secretarial job and painted .

After being married to Dale Stumpf, she

Photograph by Harriet Tomlinson Hill

Pat Stumpf with stained glass chapel window created for St. Michael's Episcopal Church

19

20

At left, Pat works in the studio with a stained glass window design. Below, she is shown with batik on cotton completed for COTTON, INCORPORATED, Raleigh. Her batik view of a hurricane's aftermath is in the photograph at the bottom of the page.

Photograph by Patricia 0 'Leary

and her husband moved to St. Louis, where he worked as a corporate con tro ller and she continued as a secretary. Later, his work took them to Ch icago , Cleveland , Charlotte, Richmond, Raleigh and Tampa. In 1981, they moved back to North Carol ina for good, respond ing to a strong preference for the Tar Heel state.

Two Careers-Symbiotic Fit Although a symbiotic relationship be­

tween working for a title company and cre­at ing as an art ist may seem un likely to some, Pat finds the two fi t together well. As common threads for both, she singles out these three areas in particular.

Patience. As an artist , i t takes many hours of advancement from one step to an­other until, after weeks of thought and la­bor, the desired end resu lt is reached. Each step requires carefu l planning; one small error can ru in weeks of work. At Lawyers Ti­tle, patience is equally important. As an or­der for tit le insurance is received , there is an immediate need for coordination (usu­ally on a tight time frame). Information is fo rwarded to an approved attorney for eva luation and response. A fter the re­sponse is received, the in format ion is passed along to the client for consideration and a rep ly, setting in motion the proce­dure for securing title insurance. Accord­ing to Pat, following through on th is ti tle procedure requires patience, planning and problem solving ski lls not unl ike those re­quired of an artist.

Communication. Although emphasizing the visual in art, and verbal/wri tten form in the title business, faci lity wi th the spoken and written word also is needed when at­tend ing art-re lated publ ic functions and taking on teach ing assignments (two ex­amples for Pat: participation in the North Carolina Arts Council grant program and teach ing in the public schools).

Tenacity. Pat's experience in art and in title work has convinced her that, with so many aspects of significant responsibi lity in both fie lds, anyone unwi lling to tackle serious responsibility and follow a problem through to satisfactory resolution wou ld not be happy in either pursuit.

I t is hardly surprising, then, th at the more difficu lt the design challenge for Pat, the more exciting and aesthetically pleas­ing will be the art piece that results.

"I find working at Lawyers Title of North Carolina creates that aesthetic tension which adds another dimension to my art," she says. "And I li ke to bel ieve that my art and community activities contribute to the total standard of excellence requ ired as a title insurance employee."~

Title News - July/August, 1994

Restructuring ALTA Group Insurance

By Kathleen August

ALTA's insurance programs are very different today than they were just a year ago. The programs are differ­

ent because Mack and Parker, the AL TA Group Insu rance Tru stees, and ALTA Board of Governors came to recogn ize the ALTA insurance program had become lim­ited in the number o f members it could serve. Dramatic change was needed for the Trust to once again be a viable insurance service to the abstracters, guaranty offices, and title insu rance agencies for whom the Trust was formed.

Over the last few years, the Trust's size diminished as the insurance market for small employer groups evolved. A number of insurance companies opened up insur­ance arrangements where small employers could choose from many plans, including lower cost Pre ferred Provider Organiza­tions (PPO) and Health Maintenance Or­ganizations (HMO).

To respond to th e changing market­place, the Trust's master policy was trans­ferred to Jo hn Hancoc k Mu tual Life Insurance Co mpany. A ltho ugh many changes were made, the Trust's structure of one-master-policy-covering-all was still lim­ited. Hancock would only allow a few plan design and rating opti ons. For many, the rates became uncompetitive, and the more mobile, healthier fi rms found other cover­age. Our ra tes were too high, our options too few.

Another factor began to emerge in 1993. Although national health care reform is still simply a co ncep t, state-by-state small group health insurance reform is actually taking place. Many states have passed legis­lation. As of May, 1994, 28 states have bills pend ing. In fac t, very few states have not taken some kind of action. The relative in­flexibi li ty of the Trust's master policy made it difficult to comply with each state's small group insurance reform laws. In the even t of national hea lth care reform , the Trust's

Title News - July/August, 1994

master policy wou ld not survive. Mack and Parker surveyed the national

insurance marketplace for the best benefit arrangements, and, in our opinion, The Trave lers o ffers the best arra ngement to ALTA's members. The Board agreed, and, earlier this year, ALTA endorsed The Trav­elers as the underwriting carrier for ALT A's li fe and hea lth program . The new, im­proved AL TA Group Insurance program al­ready has 69 firms with approximately 450 employees.

The Travelers The Travelers has been in the insurance

business forover 125 years, and 77 of those

D ramatic change was needed for the Trust to once again be a viable

. . msurance service ...

years have been devoted to providing life and health insurance to employees of busi­nesses of all sizes. The Travelers is the No. 1 insurer o f Am eri cas ' sma ll emp l oye r groups and one of the top fi ve employee benefits and managed care prov iders in the U.S. While writing this article, The Trav­elers and Metropolitan Life Insurance Com­pany signed a letter o f intent to jo intly create one of the nation's largest health in­surance and managed care operations.

Financial Strength As o f March 1994, The Trave lers Inc.

held assets of approximately $108 billion. Since December, 1993, Moody's, Stand­

ard & Poor's. and A.M. Best have upgraded The Trave lers' ra ti ngs. Thei r l ife industry

ratings are: Moody's 'A2' (Good), Standard & Poor A+ (Strong), A. M. Best 'A-' (Excel­lent). Duff & Phelps reaffirmed The Travel­ers' A+ ra ti ng, w hi c h shows th at The Travelers has a "High" claims paying ab il­ity. These rating actions reflected the posi­t ives assoc iated w ith th e Prim eri ca Corporation and The Travelers Corpora­tion merging into one company, The Trav­elers Inc., in 1993.

Technology Shows Personal Touch The Travelers is the only insurance car­

rier known to invest in a totally integrated family o f systems ( kn own as Local Cus­tomer Administration or LCA) that exclu­sive ly supports th e sm all gro up marketplace. The LCA system allows The Travelers to offer a comprehensive variety of benefit plans designed to fi t the needs of small employers nationwide. All the plans have automated claim payment and certifi­cate production.

Because of these technolog ica l capa­biliti es, employe rs and their employees alike can ca ll a toll-free number during business hours of each work day, talk to a customer service representative, and re­solve almost any inquiry within a few min­utes. No forms, no written correspondence are required, just one toll-free call. Those at The Travelers pride themselves on having a

The author has been program manager for the ALTA Group In­surance Trust since 1986 and has over 21 years experience in life/health coverage. She is a bro­ker licensed for all lines of cover­age by the State of Illinois and eamed herdegree in business

management at Elmhurst College. Before joining Mack and Parker, Inc., Chicago-based all lines insur­ance brokerage firm, in 1979, she was employed by Zurich Insurance Company.

21

state-of-the-art Customer Service Center.

Benefit Plans The Travelers understands the varying

benefit needs of small business owners across the United States and o ffers prod­ucts that allow cho ice. The Trave lers fre­quently rev iews their plan designs to ensure that current needs are being met. For example, the merger with Metropolitan Life is expected to increase the number and location o f PPO networks across the United States.

Whether an employer prefers a tradi­tional comprehensive p lan or a managed care plan, The Travelers has over 35 health plans, with optional plan deductibles rang­ing from $100 to $3,000. Th eir product choices include:

• Preferred Provider Options (PPO) Plans,

• Managed Indemnity Plans,

• Basic & Major Medical Plan ,

• Term Life Plans with or without De­pendent Life Options, and a variety of optional medical coverages add-ons such as Matern ity Care, Prescription Drug Card, and Dental with or without Orthodontia Coverage

The Travelers recently introduced sev­eral improvements . A Prescription Drug Card is now automatically part of their PPO and Managed Indemnity Hea l th p lans . Now you can purchase your prescription drugs with a co-pay, rather than having to first satisfy a large ca lendar year deduct­ible. Generic and mail order drugs have a $5 co-pay, and brand name drugs have a $8 plus 20 percent co-pay.

The Travelers recognized the need for Wellness Benefits and now covers reason­able charges for certain routine services. Routine pediatric care and immunizations up to age 6 are covered at 100 percent. Well-woman exams, such as breast and pel­vic exams, mammograms, and pap smears, are covered at JOO percent. Annual physi­cals for an employee and spouse are cov­ered up to $150subject to the plan's co-pay.

The Travelers also improved their l i fe product by adding a Living Benefit, which allows a terminally ill employee to collect 50 percent of th eir li fe b enefit , up to $50,000.

The Travelers also monitors their rates, and will modify a plan's ra tes, or a certain geograph ica l area's rates , if the rates no longer seem to be appropriate. Especially important to small business owners, when you purchase a Travelers plan in 1994, the

22

rates will be guaranteed for 18 months in most states (you can call our office to see if this applies to you).

The Travelers has a strategy: to make sure their insureds feel comfortable when making a decision on medical care and un­derstand the value of their bene fit plan. Travelers believes employee support and educational programs are crucial to mak­ing well informed medical decisions and l ifestyl e cho ices , which in turn control health care costs.

Their "Taking Care Program" provides an assortment of easy-to-read communica­ti on materials des igned to promote em­ployee health and self-care. Currently, a copy o f th e American Medica l Associa­tion 's "Guide To Your Family's Symptoms" and a monthly newsletter is sent to each employee enrolled in a medical plan.

"Patient Advocate" is The Travelers Utilization Review Program, whose sta ff

T he new, improved ALTA Group Insurance program already has 69 firms with

approximately 450 employees.

philosophy is to act as an advocate for em­ployees and their dependents. By using a case-by-case management approach to fo­cus on the most appropriate, cost-effective health care setting, this program helps con­trol medical costs while ensuring quality ca re.

Mack and Parker's Role While The Travelers has a grasp on the

small business owners' needs, Mack and Parker knows ALTA members. We have worked wi th ALTA and the Group Insur­ance Board of Trustees for 37 years, and to­gether we started th e ALTA group insurance program.

We understand that your employees' benefit concerns are extremely important to you, yet, you may not have the time, nor the resources, to comparison shop. We can do the job for you, and do it well.

If you provide us with your census and benefit information, we will show you what The Travelers has to offer. We wi ll orderthe appropriate proposals from The Travelers based on your requ irements. Many propos­als are actual ly produced in Mack and Parker's office, wh ich shortens proposal

turnaround time. Once the proposals are generated, ou r staff puts together a pack­age which exp lains the differences be­tween the p lans you selected. Our sales representatives are easily accessible to an­swer your questions.

After your dec ision to enro ll with The Travelers, we will review your submission to ensure it is complete, which exped ites th e approval process . Mack and Parker also follows up with The Travelers to make sure th e submission is moving along as quickly as possible. If there are any prob­lems during the approval process, or even after coverage has been issued, Mack and Parker will be your advocate, using our ex­pertise to facilitate solutions.

As part of our continuing servi ces to you, Mack and Parker's staff analyzes the components The Travelers uses for rate re­newals, and will present your firm with rec­om mendations. We automati ca lly show you alternatives, so you can evaluate if the time has come for a change in plan design. Plus, when our analysis indicates, we will ask The Travelers to review their findin gs and consider giving you some rate adjust­ment relief.

Mack an d Parker will be sending out mail ings and doing phone surveys through­out the summer. If you are interested today in rece iving more information, including rates, on ALTA's plans, call 1-800-346-2582 and ask to speak to Lita Clark or me.

We would enj oy meeting more ALTA members, and we will have a booth at ALTA's Annual Convention in September. If you bring us your plan design ideas and census information , we will be able to pre­pare a proposal for you on-site.

A future arti c l e will have m ore on ALT A's endorsed insurance programs, fea­turing UNUM's Disability (Income Replace­ment ) pl ans and Long Term Ca re insurance . ~

Fidelity Stockholder In Micro General

Fidelity National Financial, Inc., parent of Fidelity National Title Insurance Com­pany and oth er compani es, has an­nounced its acquisit ion of 578,716 shares of Micro General Corporation for $868,000 in cash-which is reported to represent an own ership interest of approximate ly 31 percent.

Micro General, based in Santa Ana, CA, reported 1993 revenue of $5,072,369. The company deve lops, manufac tures and markets au tomated equipment for ship­ping and mai ling operations.

Title News - July/August, 1994

We at Titlepro extend our sincere thanks to all

of our customers for the confidence you have

shown in us. We look forward to keeping

your trust by continued improvements in

our product, training, service, and support.

Happy 10th Anniversary nnEPRo and Professional Abstract.

Ten years ago, Frank Card, owner of Professional Abstract in Camp

Hill, PA, ordered the very first

Titlepro system. Frank started with an old , pre-PC, multi-user system

with two workstations. Over the years, we've helped him stay cur­

rent with the most cost-effective

technology and software. Today, Frank has a successful title firm

with the newest, fastest Titlepro

system, and eight workstations. We know that Frank's success is

due to his industriousness, and to

the hard work of manager Holly

Keller and her staff. But they are gracious enough to insist that

credit also be

TITLEPRO: The system of preference for ~ * --

the organization and efficiency

their employees enjoy because

of Titlepro.

( TITLEPRO!)

1-800-786-8776 1007 Nissley Road

Lancaster, PA 17601

independent title agents.

NAMES IN THE NEWS

Alpert Carter

Lanier Rehak

\

.... . ..

Janczur Caldwell

Bame

Janet A. Alpert, president and chief

operating officer, Lawyers Title Insurance Corporation, has been elected to the com­pany's board of d irectors. She is a mem­ber o f the ALTA Title Insurance Underwriters Section Executive Commit­tee.

Elsewhere at Lawyers Ti tle, John M. Carter has been named vice presiden t­general corporate counsel, Richmond ,

VA, and Edward Janczur vice president­branch manager, Chicago. Nicholas M. Moroz is now vice president-branch man­ager, Cleveland, and Charles Y. Caldwell, III, has been named vice presi­

dent-regional claims counsel, Phil B.

Gardner vice president- regional under-

We Can Save You$$$ On Your Errors & Omissions Insurance ...

THE NEXT MOVE IS UP TO YOU!!

ti) Lower Premiums For Title Agents, Escrow Agents, and/or Abstractors!

$ "0% Interest" Premium Financing!

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PROTECT YOUR ASSETS!

Call or write for a free no­obligation quotation today!

E::a;ee!~:i!i!i:i North American Title Organization 1-800-992-9652 :~:!!:!.:.2: P .O. Box 407003 • Ft. Lauderdale, FL 33340-7003 ...............•. ............

24 Title News - July/August, 1994

writi ng counsel, and David K. Lanier vice president-regional sales manager, all

Memphis, TN. Newly appoi nted as assistant vice presi-

dent-branch manager in Ohio are Linda J. Rehak, Dayton; Karen S. Bame, Marion; and Barbara E. Wright, Medina. Risinger Saunsia R. Risinger is now branch man-

Wilson Moore McDougal

ager, Mansfield, OH. In Westervi lle, OH, J. Brent Wilson has been named assistant vice president-area sales manager and

Deborah S. Moore assistant vice presi-dent-office manager.

Douglas S. McDougal has been named assistant vice president-assistant regional counsel for Lawyers Title, Troy,

MI. In Boston, Sandra Paige has been Paige Miller Soane SooHoo

named assistant vice president-senior na-

tional accounts executive, National divi-

sion, and David A. Miller has been appointed regional claims counsel.

Joseph A. Soane, Jr., is now qual ity

assurance manager for Lawyers Title , Dal-las, and Susan Carter SooHoo and Julia C. Kim have been named assistant c laims

counsel, Pasadena, CA. Kim Bradshaw Meyer Shiflett

CLOSING AUTOMATION THAT PROMOTES YOUR GROWTH!

Sulcus pioneered land title automation 15 years ago as the first exhibitor at the 1979 ALTA Convention.

Now, we've remodeled our entire suite of real estate closing programs in the Series V version. Sulcus's new programs let you get the most for your money: more business and time savings while satisfying all your closing needs.

Their powerful features include laser-printed forms ... multi-office environments .. . single entcy ... on-line help ... easier flow of documents . .. an experienced telephone support staff ... and much more.

Whether you're automating a single, small office or networking several operations, Sulcus has a system for you ... Now and for the Future.

Call 1-800-245-7900 to talk about an automation plan for your office.

( stJtc:trs®) LAND TITLE GROUP

Title News - July/August, 1994 25

• Ryan Narr Raffa Conrad

Nagy Jensen Thurman Kirbabas

At Datatrace Information Services Com­pany, wholly owned subsidiary of Law­yers Title, new vice presidents are Robert L. Bradshaw, Jr. (sales and marketing) , Tamara S. Meyer (customer service)

and Penny Shiflett (1099 services). Named vice president for Old Repub­

lic National Title Insurance Company are Martin R. Haller, New England states counsel, and Lawrence F. Scofield, New

26

t,the s ubscribo to the only source th!ides g e income statements and balance sheets for over 60 underwriters and ranks them 40 different ways: Performance of Title Insurance Underwriters ,,,,,,1"''"'"1 Features include comparisons of:

Total Revenue o Loss Ratio o Operating Profitability o Reserves and Loss Coverage o Losses Compared to Reserves o Agency Expense

Industry professionals- underwriters, lenders, regulators, attorneys, realtors and agents around the country rely on this book. Here's what they say: "We refer to the book to review the company's financial performance ... The book shows total assets, total equity, total reserves and the total income in the industry ... Having all this data in one place is extremely helpful ... It 's much easier to look through this annual reference than all the Form 9s.'

Yes, I'd like to order __ copies at $235 each. There is a 15% discount ($200 each) for orders of five or more books. PA residents please add sales tax.) Call Now: 1-800-296-1540 with American Express or send a check:

~~~II~~ CORPORATE DEVELOPMENT SERVICES 996 Old Eagle School Rd ., Ste. 1112, Wayne, PA 19087 Lawrence E. Kirwin , Esq., ASA American Society of Appraisers

Corporate Valuations • Acquisitions • Operational Consulting

Rapp Mclaughlin

Starrett Peters

Weaver

England states manager, both Boston, and Roberta M. Harris, Southwest regional claims counsel, Houston.

Newly appointed assistant vice presi­dents for the company are Richard L. Helms, Nashville, TN (also named claims counsel); Penny Gabrielsen-Cullen, Mil­waukee, business development officer; Kathy A. Howes, regional controller, and David W. Rhodes, regional under­writing counsel, both Houston; Susan C. Riley and Sandra M. Sichak, both Min­neapolis, title supervisor; James C. Rus­sick, Tampa, Florida state underwriting counsel ; Julie A. Susik, Deerfield Beach, FL, southeast Florida operations manager; and Kristine L. Turnbull, Minneapolis, National Service Center manager.

James J. Ryan has been appointed senior vice president and director of stra­tegic business development for Ch icago Title Insurance Company, with offices in Ch icago. Also in Chicago, William E. Narr, Sr. , National Business Unit man­ager, and Bob Raffa, National Mortgage Services, have been named vice presi­dents.

Frank Catomer, vice president and manager, Contra Costa, CA, assumes re­sponsibility for the recon figured Bay area territory and Thomas Murrell, vice presi-

Title News - July/August, 1994

Dering Rose

Schmidt Miles

dent and manager, San Luis Obispo, CA, has been assigned responsibi lity for the

newly created Coastal area terri tory. David Conrad has been named vice

president and regional administrative manager, Rosemead, CA, and J. J. Scott

Immel, vice president and Santa Clara County manager, has been appointed Los

Angeles County manager. Jim De Weese is the new resident vice president, re­gional claims counsel and manager, McLean, VA, Claims Center, and Mark

Waninger has been named Virginia state manager with offi ces in McLean. Bruce Hawley has been appointed North­eastern regional claims counsel, New York City; new associate regional counsel

are Kathleen Mitchell, Boston, and Tim Whitsitt, Baltimore.

Newly designated assistant vice presi­

dents are Craig Johnson (also marketing

manager) , Trisha Skidmore (remains ti­

tle operations officer and branch man­

ager), and Janice Wellington (also branch manager), all Washington, DC.

John P. Rapp, senior vice president,

has been appointed chief title counsel,

Commonwealth Land Title Insurance Company and Transamerica Title Insur­

ance Company, with offices at Philadel­

phia headquarters. Edward L. McLaughlin has been named manager of

training and development there, and Robert L. Nagy and Brian P. Jensen have been appointed assistant vice presi­

dent and senior coord inator for the Na­tional Title Services division, and manager of recruitment and employee re­

lations, respectively. National Title Services division has

Title News - July/August, 1994

1§§§§ "Security against ;; escrow fraud

with AIM"

-Colleen Mahaffey Vice President/Manager Cash Management Group Commerce Security Bank

"Security against fraud with escrow accounts is extremely important to our title company customers. With Landata's Automated Information Management (AIM®) system, we can provide automated daily reconciliation of escrow accounts so customers can catch fraudulent transactions before they clear the bank. Also, by resolving problems daily, month-end final reconciliations are a snap."

"To make these daily deadlines, it's the support

that makes the difference and Landata's support team is always available to help when we need it. Our customers count on us and we count on Landa ta."

Across 42 states, Landata helps more than 6,500 users with today's most advanced title and escrow systems. For a no-cost, no-obligation demonstration, call David Tandy, President or Julie Emshoff, Account Manager, at (713)871-9222.

i55555555a-··- · --·---- ---··-..... ··-····· ............ . . -- . ···-······· ··-····-..... -·-··-·- ........ . . ··- -· ···-· .... -··--· LAN DATA Leaders in Real Estate Information Automation P.O. Box 2029, Houston , TX 77252

Baltimore • Boise • Boston • Chicago • Fairfax • Fort Collins • liouston • Los Angeles Pleasanton • San Antonio • Tampa • Vancouver • West Palm Beach.

)

27

MORTGAGE BANKING

OPPORTUNITY

SENIOR MANAGEMEN1

POSl110N

National mortgage company will be expanding its opera­tions to include a title service business. Seeking experi­enced individual to serve as President of new title insur­ance subsidiary.

The ideal candidate must be able to successful ly handle all funct ions associated wi th a start-up operation , including:

·assembling a core man­agement team

·developing and imple­menting business plan

• overseeing day-to-day operations

·developing and imple­menting effective expense controls

·setting and maintaining high quality standards

·achieving profitability goals

Requirements :

• strong relationships with senior managers of na­tional title insurance com­panies

• endorsement and ap­proval by primary un­derwriters

·extensive knowledge of the title insurance industry

·successful manage­ment experience

Send resume , including salary requirements , to: H-45 , P.O. Box 506, Phi la., PA 19105. EOE M/F/DN.

28

Trew

Hyatt Hamer

Kramer

opened an office in Atlanta, where Linda R. Thurman has been named vice presi­dent and manager, and Margaret E. Kir­babas has been appointed coordinator. Michael J. Starrett has joined Common­wealth as vice president and underwriting counsel , St. Lou is, and Richard R. Peters has been named Transamerica vice presi­dent and county manager, Greeley, CO. Also for Commonwealth, Linda L. Weaver has been named marketing man­ager, Baltimore; Jacquelin L. Weitzel has been appointed commercial account executive, Pittsburgh; Ella M. Dering has been named settlement administrator, Lancaster, PA; and Martha Steele is new sales representative, Indianapolis.

Glendon W. Rose has been named president of a subsidiary operation, Com­monwealth Land Title Company of Fort Worth . Other appointees at the Texas con­cern are J erold L. Schmidt, senior vice president and chief counsel; Mac Miles, vice president of commercial develop­ment; and Philip H. Trew, escrow officer.

David 8 . Stanfield, Jr. , has been ap­pointed senior vice president, Commer­cial Closing division , Commonwealth Land Title Company of El Paso, TX, an­other subsidiary.

Brinkley K. Gaia has been named vice president-Arkansas state manager,

Gaia Stroup

Jones Johnston

First American Title Insurance Company, with offices in Memphis, TN .

Rattikin Title Company, Fort Worth, has named Robert C. Stroup vice presi­dent and examination department man­ager, and Rae Hyatt escrow officer/closer in its Southwest branch office.

Terry Hamer has been named clos­ing officer and office manager and Kathy Jones closing assistant, in the new Secu­ri ty Abstract and Title Co. , Inc. , South branch, Derby, KS.

J effrey S. Harlan has been ap­pointed chief title examiner and counsel, First Land Title Company, Fort Wayne, IN.

Seminar Scheduled For Boston Area

ALTA's Land Title Institute, in conjunc­tion with the New England Land Title As­sociation and the Massachusetts Conveyancers Association, wi ll present a regional seminar for title professionals, conveyancers and attorneys in suburban Boston on October 6.

Site for the event will be the Boston Marriott Hotel Newton, located at the in­tersection of Route 128/l-95 and the Massa­chusetts Turnpike.

Featured topics and discussion leaders wi ll include conrolled business-Melvi lle R. Bois, Universal Title Division, First American Title Insurance Company, Ed­ina, MN; the insured closing letter­Lawrence P. Heffernan, partner, Robinson & Cole, P.C., Boston; and RESP A and NAIC updates-Harold Pil­skaln, Jr., Old Republic National Title In­surance Company, Minneapol is.

Title News - July/August, 1994

Steve Johnston has been named vice

president of Fiesta Title & Escrow Agency,

a division of Title Reporting of Arizona, Inc., with offices in Phoenix.

James Kramer, a title industry vet­

eran, has been appointed president of the

Strategic Mortgage Services (SMS) Prop­erty Tit le Division, Costa Mesa, CA. Phyl­lis Klein and Chris Canedy have been

appointed Great Lakes and Western re­gional sales vice president, respectively,

for the organization's Home Equity Serv­ices group and Appraisal and Credit Infor­

mation division.

1994 AFFILIATED ASSOCIATION CONVENTIONS July 14-16 Utah, Deer Valley Resort, Park City, UT

24-26 Michigan, Shanty Creek, Bellaire, MI

August 4-6 Idaho, The Coeur d 'Alene Resort, Coeur d 'Alene, ID

10-13 North Carolina, Grove Park Inn, Asheville, NC

11-13 Minnesota, lzatys Golf & Yacht Club, Lake Mille Lacs; Onamia, MN

12-14 Indiana, Westin Hotel, Indianapolis, IN

18-20 Montana, Kwa Tag Nuk Resort, Pol­son, MT

19-20 Kansas, Marriott, Wichita, KS

21-24 New York, Site unannounced, New­port, RI

September 8-10 North Dakota, Site unannounced, Devil's Lake, ND

9-10 Missouri, Adams Mark Hotel, St. Louis, MO

15-17 Dixie, The Sandestin Beach Hilton, Destin, FL

18-20 Ohio, Dayton Marriott, Dayton, OH

21-23 Nevada, Harvey's Hotel, South Lake Tahoe, NV

October 12-14 Nebraska, Midtown Holiday Inn, Grand Island, NE

13-14 Wisconsin, Holiday Inn East Towne, Madison, WI

23-26 Florida, Lake Buena Vista Hilton, Or­lando, FL

November 2-4 Arizona, Site unannounced, Lawson, NE

Title News - July/ August, 1994

"MY PEOPLE ARE ONTHEBALL.

THEY DON'T NEED CLOSING SOFTWARE:'

If you're still tied down to doing real estate closings manually, then ProForm automated closing software is your ticket to freedom.

You enter the data only once, and ProForm does all the calculations automatically and generates the closing documents, including the HUD-1, Disburse­ments Summary, checks and more. You can also add any of your own documents such as notes, mortgages and deeds using the WordPerfect integration feature

and ProScan, SoftPros optional document imaging program. ProForm is easy to learn and use, with expert support only a phone

call away. The price offreedom is only $995 (for one ProForm license). To receive

more information and a free demo disk, call SoftPro today at 1-800-848-0143.

CORPORATION

29

BACKPLANTS AUTOMATED Finally there 's an easy way to computerize your title plant. HDEP International will deliver a completely automated backplant and give you the tools to maintain it day-forward.

IF YOU HAVE:

• Film or Fiche Source Documents

• Lot/Tract Books

• Aperture Cards

•Geo Slips

• Grantor/Grantee Books

• 3 x 5 Cards

WE WILL:

• Organize the source documents

• Develop a manual suitable for day-forward use

• Computerize the plat edit lists and subdivision indices

• Key and verify documents with 99.95% accuracy guaranteed

• Arb and research non-postable legals

• Run completeness checks and validations

• Deliver the backplant per your specs, quickly and economically

SO YOU CAN:

• Speed up title searches

• Reduce manual searching errors

• Eliminate trips to the courthouse

• Lower your expenses

We have processed more than 60 million real estate transactions. Call us today to discuss your plant.

HDEP INTERNATIONAL

1314 S King St #950. Honolulu . HI 96814 Tel (808) 591-2600 Fax (808) 591 -2900

30

MARKETPLACE

Rates: Situations wanted or help wanted, $80 for first 50 words, $1 for each additional word, 130 words maximum (reduces to $ 70 for first 50 words, $1 for each additional word, three or more consecutive placements). For sale or wanted to buy, $250 for 50 words, $1 for each additional word, 130 words maximum (reduces to $225 for 50 words, $1 for each additional word, three or more consecutive placements). Additional charge for box around ad: $20 per insertion for situations wanted or help wanted, $50 per insertion­for sale or wanted to buy. Send copy and check made payable to American Land Title Asso­ciation to Title News Marketplace, American land Title Association, Suite 705, 1828 l Street, N W, Washington, DC 20036. Responses to classified placements should be sent to same address unless otherw ise specified in ad copy.

Wanted to Buy WE BUY MISSOURI TITLE AGENCIES! We are interested in purchasing title agen­

cies in Missouri . Specifica lly in St. Charles, Springfield , Joplin, St. Joseph , Sedalia, Marshall , Co lumbia or Branson. Possibi lity of current management staying in place after purchase. We will respond to all correspondence. Please send inquiries to Title News Box B-3 17.

CALENDAR OF MEETINGS

1994

June 9 ALTA Board of Governors, Dallas, TX

August 7-9 Title Insurance Accoun tants Meeting, Hotel del Coronado, San Diego, CA

August 28-30 Reinsurance Group Meeting, La Fonda, Santa Fe, NM

September 21-24 ALTA Annual Conven­tion , Walt Disney World Dolphin, Orlando, FL

October 23-25 Title Counsel Meeting, Sil­verado, Napa, CA

1995 April 5- 7 ALTA Mid-Year Convention, The Westin Resort, Hilton Head, SC

October 18-21 ALTA Annual Conven­t ion, Loews Anato le Hote l, Dallas, TX

1996 March 18-20 ALTA Mid-Year Conven­tion , Stouffer Mayflower Hotel , Washing­to n , DC

October 16-19 ALTA Annual Conven­tion , Wes tin Century Pl aza Hotel, Cen­tury City, CA

1997 September 24-27 ALTA Annual Conven­tion, Westin Hotel, Seatt le, WA

INDEX TO TITLE NEWS ADVERTISERS

Advanced Escrow ...................................................................... page4

Corporate Development Services .............................. ... .. .............. .. ..... ........ .. . page26

Genesis .................................................. .. ........... ...... . cover2

HDEP International ...................................... ...... ........................ page 30

Landata, Inc. ....... ........... ..... ... ........................................ page27

North American Title Organization .................................... page24

RBJ Computer .................. ............. ......... page43

SoftPro Corporation ................................................................. page 29

SMS Real Estate Information Services ....................................................................... page 9

Sulcus ........................ page 25

Title Agents of America . .... ..... .... .... .. ................. .............. page 10

Title Pac, Inc. .... page 18

Title Pro ..... .......... ... .. .... .......................................... page 23

Title Scan Systems ..... page 17

Title News - July/August, 1994

With the RBJ PREMIER SOFTWARE SYSTEMS, you can increase productivity while keeping costs down. • TITLE PRODUCTION

Endorsements, Preliminary Reports, Committments and Policies.

• ESCROW PROCESSING Sale, Refinance, Loan, Bulk, ABC, Liquor License, Mobile Home and Tract Escrows.

• CUSTOMIZATION All documents are customized to suit individual client needs. A graphic reproduction of your company logo and state-of-the-a.-...-­laser printing provide for exceptional looking documents.

• TRUST ACCOUNTING Trust Accounting may be integrated with Escrow Processing and Title Production to allow one-time entry of information.

• MANAGEMENTREPORTS • 1099'S • SUBESCROW (PAYOFF) • E·MAIL & FAXING • WORDPERFECT® • NOVELL NETWARE®